Wednesday, March 30, 2011

Missouri Opens 12,000 Safe Deposit Boxes to Public & B2B Update

Missouri State Treasurer Client Zweifel opened up 1,200 safe deposit boxes last week as part of the publicity effort surrounding the Show-Me-State's unclaimed property program.  Among the items featured were the usual coins and memorabilia, but also some more unique items such as dolls and a tortoise shell baby rattle.  Generally, the items are held for 2 years by the Treasury, then auctioned to the general public.

In other Missouri news, House Bill 401, which would, among other things, enact a "business to business" exemption to the Missouri Unclaimed Property Act (discussed here), is still progressing through the legislative process.  Most recently, the House Rules Committee recommended passage of the bill.  No vote by the full House has been scheduled.

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